Keep term deposit ooen after leaving Australia - what interest rates and taxes?

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AnitaATO · Accepted Answer

Hey , We can't comment on the interest rates. That's a discussion you need to have with your bank. Tax withholding depends on what you tell your bank. You'll need to give them your overseas address, when they have this the withholding will be 10%. Without your overseas address the withholding with be 47%. Pop over to our website and check out the info we have about investing in bank accounts and income bonds (https://www.ato.gov.au/individuals-and-families/investments-and-assets/investing-in-bank-accounts-and-income-bonds).

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